TaxTMI 
TaxTMI 
Defferred Tax Asset & Liability
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....efferred Tax Asset & Liability<br> Query (Issue) Started By: - NATHURAM KADAM Dated:- 13-7-2012 Last Reply Date:- 5-10-2012 Income Tax<br>Got 1 Reply<br>Income Tax<br>Dear Sir, My client is Pvt. Ltd.....
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.... Company and his accounting figure for the FY 2011-12. Deffered Tax Assets Op. Bal - Rs. 10489 Preliminary Expenses as per IT Act -- Rs. 17160 Depreciation as per Co. Acts -- Rs. 69722 Depreciati....
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....on as per IT. Acts ----Rs.83370 Book profit as per P & L A/c. --- Rs. 2314052 Including STCG Rs. 132902 & LTCG Rs. 1408209 on share & Dividend Rs. 19000) Total Income as per Computation --- Rs. 873....
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....200 Tax on total income --- Rs. 2,49,285 (STCG 20533+Normal tax 228752) Minimum alternative tax --- Rs. 437316 (on Book Profit 2314052-19000) Prelimery Exps. ==== Rs. 19800 (For Share Capital I....
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....ncrease) Prelimery Exps. ==== Rs. 66000 (For Share Capital Increase) ======== Total Exps. 85800 ======== Total Exps. 85800 /5 Years = 17160 (Deduction u/s 35D of Income Tax Act, 1961) What i....
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....s the amount of Defferred tax asset or Defferred tax liability to be recognized in current year. And how to pass the journal entries in accounts. Thanks & Regards Reply By CA GOPALJI AGRAWAL: The....
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.... Reply: It is better to ask the exact issue instead of computation.<br> Discussion Forum - Knowledge Sharing ....